South Carolina Lawmaker Seeks to Ban Federal Currency

[SpidermanTuba]

money can't just be created out of thin air.

Yeah, it can. Happens every time someone takes out a loan from a bank.

 

[Mr.Fitnah]

I'm not sure "privately owned" is appropriate:

It is a monstrosity that must be killed

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered."
Thomas Jefferson

Who would you prefer issue currency? The politicians?

Section 8 - Powers of Congress
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

 

[blu]

money can't just be created out of thin air.

Yeah, it can. Happens every time someone takes out a loan from a bank.

nice selective quote. what you said wouldn't happen if you didn't have the fed reserve.

 

[blu]

It is a monstrosity that must be killed

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered."
Thomas Jefferson

Who would you prefer issue currency? The politicians?

Section 8 - Powers of Congress
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

let them do it. just tie to a stable source instead the whims of the federal reserve.

 

[blu]

Ya cause Anarchy is SO MUCH BETTER.

do you seriously equate ending the fed with anarchy? sound money == anarchy now??

DO you seriously think 50 small new Nations will last long in the world? Almost none of which are self sufficient?

are you trolling? sound money at the federal level, end the fed, get the dollar strong again

 

[ReAmericaNow]

That is a smart move, let’s convert to gold and silver when they are at all time highs. The same way W. kept on buying oil for SPR while it was going through the roof. Then when it prices hit rock bottom when the bankers, hedge funds, and speculators take their profit instead of homeowners who cannot pay their mortgage we will have a bankrupt federal government.
You know on second thought, he could be on to something.

 

[CrimsonWhite]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

Got a link? I kinda want to read the bill and can't find t.

 

[uscitizen]

money can't just be created out of thin air.

Yeah, it can. Happens every time someone takes out a loan from a bank.

nice selective quote. what you said wouldn't happen if you didn't have the fed reserve.

Yes it would still happen just not as much.
We had banks before we had the Federal Reserve.

 

[rightwinger]

In all, the whole fuss seems to be moot

Who cares what coins and currency is made out of?

The majority of transactions are being handled electronically. It won't be long before you have no currency at all

 

[uscitizen]

In all, the whole fuss seems to be moot

Who cares what coins and currency is made out of?

The majority of transactions are being handled electronically. It won't be long before you have no currency at all

Yep don't be a dolt and break the rythm at the checkout line by not paying with plastic.
Be a slave to the industry. Programming works.

And for heavens sake do not pull out a checkbook or the entire store stops and stares at you!

 

[editec]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

Nah, not crazy.

I just think he's stupid.

 

[Mr.Fitnah]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

Got a link? I kinda want to read the bill and can't find t.

All we have, this is as far as it will prolly go.
South Carolina Lawmaker Seeks to Ban Federal Currency - Political Hotsheet - CBS News
Bill would ban federal currency in SC

 

[Conspiracist]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

Nah, not crazy.

I just think he's stupid.

I think he's tryin' to rally people to actually get them to try and understand what is happening by being so drastic. I am sure he knows this is not gonna fly.

 

[SpidermanTuba]

Section 8 - Powers of Congress
To coin Money...

The U.S. Treasury department makes coins under authority of Congress.
The Federal Reserve system makes the money under authority of Congress.

Are you suggesting the Constitution intended the Congress personally set up and operate a mint on the grounds of the U.S. Capitol building?

 

[SpidermanTuba]

money can't just be created out of thin air.

Yeah, it can. Happens every time someone takes out a loan from a bank.

nice selective quote. what you said wouldn't happen if you didn't have the fed reserve.

Uhhh, no. Banks have made loans almost since their inception, thus creating money "out of thin air". The Federal Reserve didn't invent the loan.

 

[SpidermanTuba]

let them do it. just tie to a stable source instead the whims of the federal reserve.

So the whims of the politicians is what you'd prefer?

 

[rightwinger]

In all, the whole fuss seems to be moot

Who cares what coins and currency is made out of?

The majority of transactions are being handled electronically. It won't be long before you have no currency at all

Yep don't be a dolt and break the rythm at the checkout line by not paying with plastic.
Be a slave to the industry. Programming works.

And for heavens sake do not pull out a checkbook or the entire store stops and stares at you!

We don't need money. Everyone will have a computer chip embedded in their brain which will handle all transactions.

Either that, or we can tattoo a bar code on you

 

[SpidermanTuba]

And for heavens sake do not pull out a checkbook or the entire store stops and stares at you!

Yeah WTF is up with those checkbook people? Are they not aware a debit card is functionally identical - you can pay for something without having the cash on you, you have a record of the transaction, and you have a bank facilitating the transaction.

 

[Mr.Fitnah]

Section 8 - Powers of Congress
To coin Money...

The U.S. Treasury department makes coins under authority of Congress.
The Federal Reserve system makes the money under authority of Congress.

Are you suggesting the Constitution intended the Congress personally set up and operate a mint on the grounds of the U.S. Capitol building?

The Mint is down the street the Fed sets the value at its owe whim , and does not answer to congress nor does it open its books

"While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions."
Fed Refuses to Disclose Recipients of $2 Trillion (Correct) - Bloomberg.com
Fed Records Subpoenaed - WSJ.com

 

[Mr Natural]

South Carolina

Leading the way back to the 19th century!​